Qualcomm bets on the metaverse with a new $100 million investment fund

📆 3/21/2022 4:14 PM
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Snapdragon Metaverse Fund aims to jumpstart virtual reality and augmented reality outfits toward creating foundational technologies and content for the metaverse.\r\n•

Qualcomm has set up a $100 million fund to invest in virtual and augmented reality technologies in a bid to help jumpstart the metaverse.

The company plans to deploy the Snapdragon Metaverse Fund by investing in virtual and augmented reality companies through Qualcomm Ventures — its corporate venture capital arm. Using virtual reality, consumers could take lifelike virtual tours of homes for sale or wander through hotels virtually before booking. They could get multiple camera angles at sporting events. Augmented reality glasses could translate signs and menus as overseas travelers stroll through town, or they could overlay instructions on glasses for repair crews fixing equipment.

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